Stocks

IndiGo stock falls nearly 5 per cent

PTI | Updated on December 05, 2019 Published on December 05, 2019

IndiGo and GoAir use the same type of engine made by Pratt & Whitney (file photo)   -  V_V_Krishnan

Shares of InterGlobe Aviation, parent firm of IndiGo, fell nearly 5 per cent on Thursday after the airline designated the A320neo issue as one of the “revenue headwinds” of 2019-20.

The stock fell 4.47 per cent to trade at Rs 1,342.45 on the BSE. In early trade, it hit a low of Rs 1,337.50, down 4.66 per cent over its previous close. 

On the NSE, the stock saw a decline of 4.87 per cent to Rs 1,337.40. During the morning session, it lost as much as 4.89 per cent to Rs 1,337.05. 

With DGCA ordering IndiGo to replace all its A320neo aircraft with unmodified Pratt and Whitney (PW) engines by January 31, the airline on Wednesday designated this matter as one of the “revenue headwinds” of 2019-20, and said it is “likely to have an impact on future capacity”.

Published on December 05, 2019
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